Análisis económico-financiero del sistema eléctrico español : búsqueda de soluciones y visibilidad de cada una de ellas
Abstract
An economic and financial analysis of the different power generation technologies allows
to get an overview of the Spanish electricity sector situation. In this project an analysis of
the electricity sector was made to try to know which profitability can be expected when
investing in each generation technology. Moreover, with these data, the aim of the project
is to propose certain measures that may be useful to improve the situation of the
electricity sector in Spain.
To achieve the stated objective it is important to immerge yourself in the electricity sector
throughout its history to know the ups and downs of the sector, their causes,
consequences and solutions. Special importance is given to the study of the last 20 years,
in which it can be seen which actions led the spanish electricity system to the tariff
deficit.
This study of the last 20 years of the spanish electricity system is the link between the
historical chapter and the second chapter, the tariff deficit. This section defines the tariff
deficit and shows its evolution throughout the 21st century. In addition, the different parts
of the deficit are defined as well. The calculation of the deficit will be taken with respect
to the data of the Comisión Nacional del Mercado y las Competencias. It is fundamental
to know the importance of this chapter in the whole project since the calculation of the
deficit with aspects that affect more or less, is the starting point to think about the
solutions in the fourth chapter.
However, before the solutions, the economic and financial analysis of generation
technologies takes place. First of all, the revenues and costs of each technology
generation for 1 MW of installed capacity are calculated. For the calculation of such
incomes, in particular the market incomes, a Matlab program was made to export the data
from the pool market in Spain in the ESIOS section of the web portal Red Electrica de
España. These pool prices are taken every hour of the year, being multiplied by the
energy sold in that time. There are two types of costs in the electricity generation sector: the investment cost and
exploitation cost. To apply these costs to the different technologies, they are taken from
data web portals with comparations of studies, as it is the case of openei.org (Open
Energy Information), and also from reports from CNMC and the Plan de Energías
Renovables 2011-2020 from the Spanish Government.
With incomes and costs, followed by the corresponding taxes, a free cash flow of a length
of 25 years is made to find the Internal Rate of Return (IRR) of each technology, which
measures the profitability of each generation. With these cash flows it is possible to
determine which technologies are more profitable to invest in the future.
Finally, after making the historical analysis, the tariff deficit chapter and the different
generation technologies analysis, suggestions are made to prevent the deficit of the
Spanish electricity sector. Issues such as premiums for photovoltaic technology, support
for national coal, capacity payments, the interrumpibility management or taxes are
discussed in the fourth chapter to make the spanish electricity system more stable.
Trabajo Fin de Grado
Análisis económico-financiero del sistema eléctrico español : búsqueda de soluciones y visibilidad de cada una de ellasTitulación / Programa
Grado en Ingeniería ElectromecánicaMaterias/ UNESCO
33 Ciencias tecnológicas3306 Ingeniería y tecnología eléctrica
53 Ciencias económicas
5312 Economía sectorial
531205 Energía
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